Hester Pierce, a Commissioner at the US SEC notes that the crypto market is set for a BTC Exchange Traded Product.
She particularly negated the ongoing notion among the governments of the world that BTC and other cryptos are an avenue to finance terrorism and launder money.
Pierce, who is popularly referred to as “crypto mom” highlighted that the mass populace is set to buy and sell a BTC ETP.
“and so if we don’t give them the natural way, which I think would be an ETP, they are going to look for other (less optimal) ways to do it.”
The crypto mom made it clear that national governments’ new ways of banning and going against the crypto sector for fear of its downsides may not be the best way forward. She urged the government to not explain away the emerging technology as a mere terrorism financing tool. She pointed out how the governments had blown the problem out of proportion and highlighted there was no way the governments of the world will ban BTC and cryptos outrightly.
She however showed enthusiasm as regards working with Gary Gensler, who was once an MIT digital currency professor and now a nominee to become the next Chairman of the US SEC.
This new take by the crypto mom comes as a reliever and a breath of fresh air as many governments of the world like India and Nigeria have made moves to extinguish cryptocurrencies at all levels.
Although these nations have not been successful in this bid, they continue to frustrate their citizen’s move in the sector.
What are your thoughts on the above?
Let us hear it in the comments below.
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